Power Division asked to expedite finalisation of renewable energy policy

ISLAMABAD: The Cabinet Committee on Energy (CCOE) Monday directed the Power Division to expedite process of formulation and approval of the renewable energy policy.  

The CCOE’s

meeting was presided over by Minister for Planning, Development and Special
Initiatives Asad Umar, said a press release. 

The CCOE was

apprised about the progress on the formulation and approval of the Renewable
Energy (RE) Policy and the introduction of competitive bidding process for the
entry of new producers in the renewable energy sector of Pakistan. 

The forum

also approved the proposals of the Ministry of Power regarding placement of
various project companies in their respective categories on the basis of
already specified criteria.

The CCOE was

apprised about the future trajectory of energy demand in the country and the
steps being taken to ensure the availability of power to various sectors and
the progress being made on rationalising the energy prices in the
country. 

NEPRA

apprised the meeting on the progress made on the introduction of the advance
design of the Competitive Trading Bilateral Market in Pakistan.

The CCOE was

briefed about steps being taken regarding the governance improvement of the
power sector. 

It was

informed that the Chief Executive Officers (CEOs) of the Alternative Energy
Development Board (AEDB), the Private Power and Infrastructure Board (PPIB),
and electricity generation companies (GENCOs) have been appointed following a
competitive process. A progress is being made regarding the establishment of a
Technical Directorate at the Ministry of Energy, it was further informed. 

The Ministry

of Maritime Affairs submitted its report regarding the enhancement of off-shore
storage capacity of imported petroleum products. The CCOE directed the
Petroleum Division to examine the financial feasibility of the proposals.